Dear
Trader…
Bulls made come back after two days
of continuous drubbing as traders opted to buy beaten down but fundamentally
strong stocks. Key gauges made a gap up opening taking encouragement with CII
President TV Narendran’s statement that India’s economy is expected to grow
7.5-8 per cent this fiscal year with exports playing a key role in the
country’s success story. Some support also came with report that India and the
EU will return to the negotiating table to start serious talks for a free trade
agreement (FTA) in June after a gap of nine years.
Sentiments remained eminent
throughout the day after the Ministry of Commerce and Industry said that there
is a five-fold increase in the grant of patent annually, and a four-fold rise
in trademark registration every year since 2014. It said that to modernise the
Intellectual Property (IP) office and reduce legal compliances, along with
facilitating filing of IP applications, the government has adopted several
administrative and legislative measures.
Markets extended gains in final hour
of trade to end near intraday highs as trader remained optimistic, amid a
private reports stating that real-time payments are forecast to boost India’s
GDP by $45.9 billion in 2026 as real-time payments transaction volumes are set
to exceed 206 billion by that time. Also, street took a note of a private
report that the government has begun discussions on bringing parity between
long-term capital gains (LTCG) tax on debt, listed equities and unlisted
equities.
Nifty futures opened at 17125 points
against the previous close of 16958.35 and opened at a low of 17068.20 points.
Nifty Future closed with an average movement of 160.60 points and a rise of
around 253.15 points and 17211.50 points…!!
On the NSE, the midcap 100 index
will rise 1.62% and smallcap 100 index is closing rise 1.17%. Speaking of
various sectoral indices, Realty, Auto, PSU Bank, Media and FMCG stocks saw
heavy gains on the NSE, while all other sectoral indices also closed higher.
At the start of intra-day trading, April
gold opened at Rs.51460, fell from a high of Rs.51705 points to a low of Rs.51410
with a rise of 176 points, a trend of around Rs.51569 and March Silver opened
at Rs.65500, fell from a high of Rs.65685 points to a low of Rs.64993, with a rise
of 128 points, a trend of around Rs.65244.
Meanwhile, NITI Aayog member V K
Saraswat has said that India’s non-fossil energy capacity will reach 500GW by
2030 and the country shall meet half of its energy requirements through
renewable energy, reducing the carbon intensity of its economy by less than 45
per cent.
Furthermore, Saraswat said India
will reduce the total projected carbon emissions by 1 billion tonnes from now
onwards till 2030. By the year 2070, India will achieve the target of Net Zero.
He also highlighted that deep decarbonisation requires broad-based systems approach
across a portfolio of options including clean energy carriers such as Hydrogen
and Methanol and Renewables.
Talking about the use of alternative
fuels to reduce import and emissions, NITI Aayog member said that presently
BioCNG, ethanol and methanol are alternative fuels available with India and in
future green Hydrogen will be available through renewables, which will lead to
a reduction in emissions by 40 per cent.
Technically, the important key resistances are placed in Nifty future are at 17272 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 17303 – 17330 levels. Immediate support is placed at 17170 – 17107 levels.
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